How You Can Make a Credit Card Debt Settlement - By: J.J. Yong

Credit card debt has now become a major concern. Nowadays nearly every adult is in some kind of debt. Upon realizing the amount of debt you have, undoubtedly, many of us would start searching for ways to eliminate debt. One of the ways is by getting a debt settlement deal from our creditors. If you are committed and dedicated enough, you too can try this form of settlement. You can start by implementing the following:

1. Do not use your credit cards, at all. If you cannot afford it, do not buy it. Ice your credit card, cut it up, hide it do anything that will prevent you from using it. My card has a label saying: Do you really want to use me? Really? Choose words that would make you change your mind about using your card or better still, leave home without it.

2. Do not make any payment on your cards for at least 90 days; I do not suggest waiting any longer because your debt might be handed over to a collection agency. If it gets handed to a debt collection, debt negotiation will be even harder.

3. If you are doing this on your own, then this is the time that you should call your creditors and request to renegotiate your debt. Offer a settlement amount that you can afford to pay in a lump sum and immediately in the event that they agree with your proposal. If they say no, wait and try again maybe at the end of the month. During this time, they have quotas to fill and you might get a better response. If they agree, make sure you get everything you want in writing. Everything must be in order and in ink so that the both of you have proof of this arrangement.

4. As they deal with so many people at a time, they will not remember you so you should be the one who remembers to keep every detail. Keep a copy of your letters and remember to send them via certified mail.

As earlier mentioned, this will not be an easy process especially if you lack the experience and skills. Try not to give up so easily. Keep trying and if it still does not work, then maybe this is not for you and you should immediately seek assistance from debt settlement companies or go for credit counseling services.

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